🪙 China strikes Crypto again — Ban on personal ownership
Recently, Chinese authorities introduced a full ban on personal ownership of cryptocurrency, including Bitcoin. Previously, only mining and trading were restricted, but now even just holding crypto is illegal.
The goal is clear — tight control over the financial system and pushing the digital yuan. China has long aimed to make its digital currency dominant, replacing all decentralized assets. And as we know, crypto operates without intermediaries or censorship — which makes it a threat to central control.
💥 Market reaction was quick:
— Bitcoin dropped by 1.5%,
— Ethereum fell by almost 3%.
Bitcoin’s RSI (Relative Strength Index) fell to 38 — a signal that the asset is approaching “oversold” territory, meaning selling pressure is increasing.
🧠 My take:
China keeps tightening its grip, but in doing so, it’s also pushing the crypto community to decentralize even more. Developers and investors are moving to freer regions, and that could actually benefit crypto in the long run. These bans aren’t the end — just another chapter in crypto’s evolution.
💬 What do you think? A blow to crypto or a new opportunity for growth?
